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Tata Consultancy Services Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on February 20, 2017 has approved a proposal to buyback up to 5,61,40,351 Equity Shares (Five crore sixty one lakh forty thousand three hundred and fifty one only) of the Company for an aggregate amount not exceeding 16,000 crore ( Rupees Sixteen thousand crore only) (hereinafter referred to as the "Buyback Size") being 2.85% of the total paid up equity share capital, at Rs.2,850 (Rupees Two thousand eight hundred and fifty only) per Equity Share (hereinafter referred to as the "Buyback Price").

The buyback is proposed to be made from the shareholders of the Company on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the SEBI (Buy Back of Securities) Regulations, 1998 (hereinafter referred to as the "Buyback Regulations") and the Companies Act, 2013 and rules made there under.

Here are some other facts about TCS Buyback:

Promoter’s Holding : 73.33%

Public holding upto Rs.2 Lacs : 3.26% which is approximately 64294312 equity shares

CMP as on Feb 20 : Rs.2541.15/- per share

Market Cap : Rs. 500488.70 crore

Buyback Price : Rs. 2850 per share

Number of Shares to be bought back: 56140351 (Five crore sixty one lakh forty thousand three hundred and fifty one only) equity shares of the Company (representing 2.85% of the total number of equity shares in the paid-up share capital of the Company)